LUXEMBOURG / RankWire.AI / – European Union increased its expenditure on petroleum oil imports significantly in the second quarter of 2026, even though the physical volumes remained almost unchanged. According to Eurostat, the value of oil imports rose by 55.8% compared to the average monthly figures for 2025. The volume of oil imported reached 36.7 million tonnes, which is 1.2% higher than before. These data illustrate a notable disparity between the increase in expenditure and the actual amount of oil brought into the bloc. As a result, the quarter experienced a much greater change in total value than in the quantity of oil imported.
In contrast, EU imports of liquefied natural gas (LNG) showed a different trend during the same period. LNG import value increased by 4.1%, while the volume decreased by 5.6% from the 2025 monthly average. Meanwhile, natural gas delivered in gaseous form experienced growth in both value and volume. Its import value grew by 18.5%, and physical volume increased by 3.4%. The quarterly data reflects energy products purchased by EU countries from suppliers outside the union. This data allows for a direct comparison of the main imported fossil fuels across the EU.
During the second quarter, the United States remained the leading supplier of petroleum oil to the EU, accounting for 18.8% of imports. Norway was next with 14.3%, and Kazakhstan supplied 13.4%. Collectively, these three countries contributed 46.5% of the total EU petroleum oil imports during that period. The concentration of suppliers was even higher for liquefied natural gas, with the United States holding a significantly larger share of the overall LNG imports. The rankings reveal distinct supply patterns across oil, LNG, and pipeline gas sources.
US Leads in EU LNG Supply
In the second quarter of 2026, the United States supplied 63.2% of the EU’s liquefied natural gas imports. Russia contributed 17.3%, and Algeria provided 8.1%. These three countries accounted for 88.6% of all LNG imports during the period. This distribution differs notably from the petroleum oil market, where the top three suppliers provided less than half of total imports. The figures reflect each country’s share within the relevant EU energy import category, and they distinguish LNG trade from gas imported in gaseous form.
Norway was the primary source of gaseous natural gas with a 51.2% share. Algeria ranked second at 18.2%, followed by the United Kingdom at 11.1%. Russia supplied 10.2% of the imports in this category. Eurostat compiled these figures using Comext trade data and statistical estimates. The dataset covers crude petroleum oils, liquefied natural gas, and natural gas transported in gaseous form. This breakdown enables comparison of import shares across different fuel types without combining them.
Oil Import Value Bounces Back After 2025 Decline
The sharp increase in petroleum oil import value during the second quarter followed a decline throughout 2025. In 2025, the EU’s petroleum oil import value decreased by 17.8% compared to 2024, while the volume fell by 6.1%. Overall, the bloc imported €336.7 billion worth of energy in 2025, with a total volume of 723.3 million tonnes. During that year, energy import value declined by 11.1%, and volume decreased by 0.6%. These annual figures serve as a benchmark to analyze the recent quarterly movements in oil, LNG, and gaseous natural gas.
In 2025, EU energy import totals remained below the levels of 2022. The bloc imported €693.4 billion worth of energy in 2022, with a volume of 849.6 million tonnes. By 2025, the energy import value had dropped by 51.4%, and the volume was 14.9% lower. Compared to the 2025 monthly average, the second quarter of 2026 saw a significant rise in oil import value, with only a modest increase in physical volume. The latest data indicate that quarterly oil volumes are now close to last year’s monthly average.